Pangea Blockchain Fund raises $22M, plans to invest in 'market-defining blockchain technologies'

Pangea Blockchain Fund, a Switzerland-based investment firm, announced that it has secured $22 million in funding from investors including Copernicus Asset Management SA and owner Roger Ver. The firm expects to cap its fundraising efforts at $200 million. It also announced the launch of its inaugural International fund, which will be "focused on innovative blockchain solutions."

James Duplessie, a co-founder of Pangea's Swiss-based investment advising arm Blockchain Investment Advisory Sagl, states that Pangea's investment thesis "is based on the profoundly important reality that blockchain will fundamentally alter the way society collaborates, transacts, governs and brings new concepts to life." The firm will solely invest in "commercial and industrial applications for the underlying blockchain technology" and has no plans to invest in cryptocurrency.